Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

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Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Small-Cap Stocks We’re Skeptical Of

ANGI Cover Image

Many small-cap stocks have limited Wall Street coverage, giving savvy investors the chance to act before everyone else catches on. But the flip side is that these businesses have increased downside risk because they lack the scale and staying power of their larger competitors.

These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to help you separate the good companies from the bad. That said, here are three small-cap stocks to avoid and some other investments you should consider instead.

Angi (ANGI)

Market Cap: $791.5 million

Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US.

Why Are We Hesitant About ANGI?

  1. Struggled with new customer acquisition as its service requests averaged 22.5% declines
  2. Sales are expected to decline once again over the next 12 months as it continues working through a challenging demand environment
  3. High marketing expenses suggest it needs to spend heavily on new customer acquisition to sustain momentum

At $18.15 per share, Angi trades at 5.8x forward EV/EBITDA. If you’re considering ANGI for your portfolio, see our FREE research report to learn more.

Udemy (UDMY)

Market Cap: $1.01 billion

With courses ranging from investing to cooking to computer programming, Udemy (NASDAQ: UDMY) is an online learning platform that connects learners with expert instructors who specialize in a wide range of topics.

Why Are We Cautious About UDMY?

  1. Decision to emphasize platform growth over monetization has contributed to 1.3% annual declines in its average revenue per buyer
  2. Sales are projected to remain flat over the next 12 months as demand decelerates from its three-year trend
  3. Highly competitive market means it’s on the never-ending treadmill of sales and marketing spend

Udemy is trading at $6.72 per share, or 10.7x forward EV/EBITDA. Check out our free in-depth research report to learn more about why UDMY doesn’t pass our bar.

Hertz (HTZ)

Market Cap: $1.68 billion

Started with a dozen Model T Fords, Hertz (NASDAQ: HTZ) is a global car rental company providing vehicle rental services to leisure and business travelers.

Why Are We Out on HTZ?

  1. Underwhelming unit sales over the past two years show it’s struggled to increase its sales volumes and had to rely on price increases
  2. Waning returns on capital imply its previous profit engines are losing steam
  3. Unfavorable liquidity position could lead to additional equity financing that dilutes shareholders

Hertz’s stock price of $5.42 implies a valuation ratio of 4x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than HTZ.

High-Quality Stocks for All Market Conditions

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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